Alignment Healthcare Sees Unusually Large Options Volume (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of unusually large options trading on Friday. Traders purchased 16,250 call options on the stock. This represents an increase of 453% compared to the typical daily volume of 2,941 call options.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALHC shares. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday, October 30th. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Stephens raised Alignment Healthcare from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Tuesday, December 3rd. Finally, KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a "sector weight" rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.44.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the transaction, the insider now owns 1,726,097 shares of the company's stock, valued at $18,590,064.69. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the completion of the sale, the chief executive officer now owns 2,363,100 shares of the company's stock, valued at approximately $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,546 shares of company stock worth $7,875,008 in the last three months. Insiders own 6.60% of the company's stock.

Institutional Trading of Alignment Healthcare

Several large investors have recently bought and sold shares of ALHC. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company's stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company's stock valued at $24,294,000 after purchasing an additional 185,854 shares during the last quarter. William Blair Investment Management LLC boosted its position in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company's stock valued at $24,279,000 after buying an additional 1,507,759 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alignment Healthcare by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company's stock worth $28,875,000 after buying an additional 32,839 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Alignment Healthcare by 0.9% during the third quarter. State Street Corp now owns 2,252,287 shares of the company's stock worth $26,622,000 after buying an additional 20,731 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

ALHC stock traded down $0.02 during mid-day trading on Friday, hitting $10.82. The stock had a trading volume of 756,974 shares, compared to its average volume of 1,183,712. The firm has a fifty day simple moving average of $11.87 and a 200 day simple moving average of $10.28. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $2.07 billion, a P/E ratio of -14.05 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company's revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, research analysts forecast that Alignment Healthcare will post -0.69 EPS for the current year.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.